Real Estate Principles (Chpt. 1 Quiz) Questions and Correct Answers Graded A+
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Course
EDPNA
Institution
EDPNA
The rights and interests that a person has in the thing owned is the definition of:
a. Wealth.
b. Property.
c. Debt.
d. None of the above. - Answer: b. Property.
** Property: is defined as the "rights and interests that a person has in the thing owned."
(pg. 5)
One acre e...
Real Estate
Principles (Chpt. 1
Quiz) Questions
and Correct
Answers Graded
Denning [Date] [Course title]
,The rights and interests that a person has in the thing owned is the definition of:
a. Wealth.
b. Property.
c. Debt.
d. None of the above. - Answer: b. Property.
** Property: is defined as the "rights and interests that a person has in the thing owned."
(pg. 5)
One acre equals:
a. 43,560 square feet.
b. 4,840 square yards.
c. Neither a nor b.
d. Either a or b. - Answer: d. Either a or b.
**One ACRE is 43,560 square feet; 4,840 square yards.
(pg. 17)
Which of the following is NOT a test to determine whether an item is a fixture?
a. Relationship of the parties.
b. Method of attachment.
, c. Value of the item.
d. Intent of the parties. - Answer: c. Value of the item.
(*Fixtures: are items of personal property that are attached to, or incorporated into, the land in such a
manner as to become real property. The courts use these 5 tests to determine if an item is a fixture:
M 1. Method of attachment
A 2. Adaptability
R 3. Relationship of the parties
I 4. Intention
A 5. Agreement
(*Remember MARIA when trying to determine if an item is a fixture.)
***Cost, size, and time installed are NOT tests in determine if something is a fixture (real property).
(pg. 8 & 9)
Appurtenant means the ownership of the item:
a. Is personal.
b. Is movable.
c. Is a crop.
d. Runs with the land. - Answer: d. Runs with the land.
(*Ex. MUTUAL WATER COMPANIES are organized by water users in a given district to supply ample
water at a reasonable rate. They are usually corporations in which the owner of each parcel of land are
given a share of stock. The stock is appurtenant to the land; that is , each share of stock is attached to
the land and cannot be sold separately.
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